Pump.fun’s Q4 2025 $615M Cash-Out and $935.6M Revenue Ignite Profit vs. Extraction Clash

In Q4 2025, Solana-based meme coin launchpad Pump.fun reportedly moved nearly $615 million off-chain while generating about $74.1 million in quarterly revenue and roughly $935.6 million in lifetime revenue. Critics call the large transfers and near-100% gross margins a major extraction from users, while supporters argue the platform is simply a profitable business that users choose to engage with.